Institute media
The Department of Financial Studies the Post-graduate Institute for Accounting and Financial Studies at the University of Baghdad discussed the research titled (Evaluating Risk Management According to the (COSO) Framework and its Role in Reducing Compensation Losses / Applied Research in the National and Iraqi General Insurance Companies) for the student Muys Abdallah Awad to obtain a higher diploma equivalent to a master’s degree in insurance and grants its holder All rights and privileges of a master’s degree.
The study aimed to be the basis for following up on the plans that senior management seeks to achieve. Adopting modern, internationally approved standards represents an important factor for the integrity of internal procedures on the one hand, and a necessary step to improve the decisions of insurance companies in general. The problem of the research was that the internal control procedures used in Iraqi insurance companies are not compatible with most modern international frameworks for internal control, including the integrated (COSO) framework, which led to losses in the insurance compensation operations of some portfolios, and to address this problem.
The study concluded that internal control in Iraqi insurance companies is weak and does not keep pace with developments in the concept of internal control at the world level.
